When institutions decide to acquire stocks the traders will not just go all in
and buy at one time for logical reasons. Often they will rent an algo from a BD or use their own and it will go to work buying the positions. As the day gets later and later- if they have not filled the quota, the algo becomes more aggressive.
Look at a 2 minute chart of tick and you will see regular spikes that begin to build a pattern over time. When there is a lot of this occurring you will see tick stay above zero all day for the most part with spikes regularly. Once the locals sniff out the activity they will make it more expensive for the long term guys.
But there is not a Sell Cycle Program as sells seem to come on all at once. Stairs Up- Elevator down.